Fear of Outages Is Boosting Chinese Battery Unicorn on IPO Track
- Shenzhen’s EcoFlow is already profitable and selling globally
- Startup raised $100 million in the summer and plans expansion
EcoFlow’s DELTA Max, a two-day home backup power station.
Source: Business WireThis article is for subscribers only.
EcoFlow Inc., a Sequoia-backed portable battery maker, is betting on rising demand from outdoor enthusiasts and doomsday preppers to boost its business before an initial public offering in its hometown of Shenzhen, China.
Two years into an era of lockdowns and travel restrictions, the growing popularity of outdoor activities from camping to tailgating is growing sales of portable power packs, EcoFlow founder and Chief Executive Officer Bruce Wang said in an interview. Families preparing for power disruption from natural events are also helping sales, which will at least double next year with growth from China leading the jump, he added.